Sundance Ltd operates in the Sunraysia District of Victoria. The company grows various grape varieties. Some of the grapes are sold as eating grapes, whilst others are dried. The business has two distinct divisions, one being Fresh Fruit and the other Dried Fruit.

You have been employed as a graduate accountant for the company. The financial accountant has shown you the general purpose financial reports that he has prepared. He has told you that he is about to give these reports to the company’s general manager. The general manager is then going to present the reports at a meeting with the divisional managers, where he will discuss the performance of each division.

Using your knowledge of financial and managerial accounting, general and specific purpose financial reports and various users of accounting information, advise the financial manager as to the approach they should adopt to meet the requirements of each of the divisions.